News Recap: Oneok Partners LP (OKS), MPLX LP (MPLX)

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Oneok Partners LP (NYSE:OKS):

The company’s RSI reading has hit 55.22. The stock edged lower by -3.94% to close previous trading session at USD 30.94.

The shares of the company fluctuated in the range of USD 21.86 and USD 43.62 in the course of 52 weeks. Over the three months, the company’s shares have surged by 40.43% and in the past one year, it has lost -13.61%. Additionally, the stock’s year to date performance has improved 5.94%. Over the last five days its shares have declined by -4.51% and in the past six months it has moved down -3.92%.

Further, the company is trading at a price to earnings ratio of 40.12 and the stock is at a price to book ratio of 1.45. The stock’s weekly volatility is calculated as 4.70% and monthly volatility as 5.42% with ATR of 1.70, beta of 0.44 and price to cash ratio of 1734.04.

Oneok Partners LP (OKS) on March 9, 2016 declared the completion of the first phase of the Roadrunner Gas Transmission pipeline project (Roadrunner) in West Texas.

Roadrunner is a 200-mile pipeline connecting ONEOK Partners’ existing WesTex natural gas pipeline system near Coyanosa, Texas, to a new international border-crossing connection at the U.S. and Mexico border near San Elizario, Texas. The project is fully subscribed under 25-year firm fee-based commitments. The accomplished first phase provides 170 million cubic feet per day (MMcf/d) of capacity to markets in Mexico and El Paso, Texas.

The second phase, which will increase the pipeline’s capacity to 570 MMcf/d, presently is under construction and is predictable to be accomplished in the first quarter 2017. The third and final phase of the project is predictable to be accomplished in 2019 and will increase the total capacity on the pipeline to 640 MMcf/d.

The project is a 50-50 joint venture with Mexico City-based natural gas infrastructure company Fermaca and is estimated to cost about $430 million to $480 million, a decrease of $20 million from formerly declared cost estimates. The reduction in project capital is a result of lower material and labor costs associated with construction.

MPLX LP (NYSE:MPLX):

The stock decreased by -2.78% to close last trading session at USD 28.34. The company’s shares oscillated in the range of USD 27.54 and USD 29.40 during intraday trade.

A total of 1.75 million shares exchanged hands, below its 3 month average volume of 3.57 million shares. Over the last five days its shares have surged by 5.94% and in the past six months it has moved down -33.36%.

Furthermore, the stock has weekly volatility of 6.28% and monthly volatility of 6.20% with ATR of 1.74. The stock’s RSI is 57.29 and distance from 50-day simple moving average is +8.30%, whereas its distance from 20-day simple moving average is +6.65% and distance from 200-day simple moving average is -31.64%.

Marathon Petroleum Corp. (MPC) and MPLX LP (MPLX) on March 14, 2016 have executed definitive agreements for the contribution of MPC`s inland marine business to MPLX. In exchange, MPLX will issue equity to MPC valued at $600 million. MPLX anticipates 98 percent of the equity to be issued in the form of common units and the remainder in general partner units, at an approximate price of $26.09 per unit.

The total transaction consideration represents an implied multiple of about five times the inland marine business` projected earnings before interest, taxes, depreciation and amortization (EBITDA) for the next 12 months. MPC has agreed to waive first-quarter 2016 distributions, counting incentive distribution rights and general partner distributions, with respect to the common units issued in the transaction. Pending customary closing conditions, the transaction is predictable to close as of March 31 and will be right away accretive to unitholders.